The International Economics Department of the Graduate Institute is saddened to learn that Robert A. Mundell passed away on April 4.

Robert Mundell has been a major contributor to international macroeconomics, and the Institut de Hautes Etudes Internationales (IUHEI), now the Graduate Institute, has been very fortunate to benefit from his sustained support.

Robert Mundell’s work has been a keystone to international macroeconomics and policy, and remains highly relevant to this day. His seminal contributions include works on the impact of flexible exchange rates, international capital flows, the international transmission of economic fluctuations and policies (with the Mundell-Fleming model that remains a major analytical tool), as well as optimal currency areas including the creation of the euro. His contribution was recognized by the Nobel Memorial Prize in economics in 1999.

Robert Mundell greatly contributed to the development of economics at the IUHEI. He taught classes in international economics during the summer semester from 1965 to 1975, and subsequently paid regular visits to the Institute and remained in close contact with faculty and students. His involvement, along with that of Harry Johnson, stimulated the interest of generations of students in macroeconomics and led them to successful careers in policy-oriented economics. He also raised the visibility of the Institute with regular visits by prominent economists, and supported the creation of the International Center for Monetary and Banking Studies that every year brings together academic and policy makers to exchange views on topics of major policy relevance.

The faculty and alumni mourn a person who in addition to being a major economist has been a mentor and friend to many of them. Our deepest sympathy goes to his wife Valerie, his sons William and Nicholas and his daughter Robyn.

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(Jameson Wu/EyePress/NEWSCOM/SIPA / Jameson Wu/EyePress/NEWSCOM/SIPA)